Racino officials announced Wednesday their gambling license was finalized by the Ohio Lottery Commission, giving them the green light to open the former River Downs racetrack that has been rebuilt to add 1,500 video slot machines and six eateries.

Open 24 hours a day, seven days a week, the $300 million facility will employ 800 – 100 more than originally projected, Belterra officials said.

Greater Cincinnati has seen two other gambling outlets open last year: Horseshoe Casino Cincinnati opened Downtown in March 2013 and Miami Valley Gaming racino opened in December in Warren County's Turtlecreek Township. The region has long been home to three riverboat casinos in Southeast Indiana.

Belterra Park is the fifth Ohio racetrack to begin operating as a racino with video slots.

The increased racino competition has weighed on Ohio casino results. Ohio's four casinos generated $79.6 million in revenues in March – down 5.6 percent from the year-ago month.

Hamilton County transportation officials have projected a 15 percent increase in traffic along Kellogg Avenue near Belterra Park: an extra 688,000 vehicles per year.

A 2011 study commissioned by Gov. John Kasich forecast that the former River Downs would generate $129.6 million annually, once it was fully operating with all 2,500 slot machines authorized by Ohio law. ■